The Enforcement Directorate (ED) conducted raids on the Hiranandani group, a prominent real estate developer in India. The ED searched four premises belonging to the group, with three located in Mumbai and one in Panvel. The raids were carried out on suspicion of the group's involvement in violations of FEMA regulations.
About four-five premises in and around Mumbai are being covered. The probe pretains to alleged contravention of the Foreign Exchange Management ACT (FEMA), the sources said.
The probe pertains to alleged contravention of the Foreign Exchange Management Act (FEMA), the sources said. It is not linked to another FEMA investigation against TMC leader Mahua Moitra who was expelled as a Lok Sabha MP recently. BJP MP Nishikant Dubey alleged that Moitra had posed questions in the Lok Sabha with the intention of targeting the Adani group and Prime Minister Narendra Modi, purportedly influenced by businessman Darshan Hiranandani, in exchange for gifts.
Dubey had also accused Moitra of compromising national security for monetary gains. Moitra has denied any wrongdoing and claimed she was being targeted as she had raised questions on the deals of the Adani group.